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Sri lanka News – Sri Lanka is planning to raise state revenues to 13 percent of gross domestic product in an upcoming budget for 2023, from the current about 8.5 percent, State Minister for Finance Ranjith Siyambalapitiya has said.

To reach the target Sri Lanka will have to raise an extra 875 billion to 900 billion rupees compared to last year, he was quoted as saying in a statement.

In 2021 Sri Lanka’s tax and non tax revenues were 1,457 billion rupees which was about 8.7 percent of GDP.

A revised budget for 2022 is targeting 2,084 billion rupees which is also 8.7 percent of an inflated gross domestic product. (Colombo/Nov01/2022)

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